Total closes the sale of non-core UK assets to Neo Energy
Following the regulatory approvals and the agreement of partners, Total closed the sale of UK North Sea non-core assets to NEO Energy.
“As announced on May 20, we have worked closely with HitecVision and its portfolio company NEO Energy to conclude this sale. This sale of assets contributes to the action plan currently being implemented to address the economic crisis by focusing on cash delivery and demonstrates our ability to relentlessly lower the breakeven of our portfolio. ” declared Jean-Pierre Sbraire, chief financial officer of Total.
The detailed transition plan prepared with NEO Energy will ensure a smooth transfer of operations.
Total is a broad energy company that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.